Sharma may ask US to restore GSP scheme

Commerce minister to voice concern against protectionist moves of the US like the steep hike in visa fees

Commerce and Industry minister Anand Sharma is likely to pitch for the restoration of generalised system of preference GSP with the US on his visit to the country.

GSP scheme,which allowed duty-free import of specific goods into the US from developing countries such as India,was withdrawn for a number of products.

The minister,who is on a weeks visit to the US for India-US economic opportunities and synergies summit,is also expected to discuss the huge hike in professional visa fees and the totalisation agreement with the US.

The minister is scheduled to meet the US trade representative Ron Kirk and treasury secretary Timothy Geithner on wide-ranging issues from investment in infrastructure debt fund to Indian and US banks access to each others markets,opening of FDI caps in insurance and investment environment in the two countries.

Sharma will be travelling along with Finance Minister Pranab Mukherjee,who is visiting to the US for a host of meetings,including G-20,G-24 and a BRIC meeting.

Sharma and Mukherjee will both be part of a CEO forum,which will see Tata group head Ratan Tata representing the corporate sector at the forum.

India has been raising its concern over the hike in fees for H-1B and L1 visas for quite some time now. However,the US has not responded so far.

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The US hiked the professional visa fee to help fund programmes such as enhancing border security and meeting health needs of 9/11 victims. India is also likely to discuss collaborative projects in energy-efficient buildings,water,agriculture and health care with the US.

Power Minister Sushil Kumar Shinde and Renewable Energy Minister Farooq Abdullah will also be travelling to Chicago to attend the CEOs forum.

The centennial summit of prestigious Executives Club of Chicago is being held in collaboration with the Federation of Indian Chambers of Commerce and Industry FICCI and the Chicago Council on Global Affairs at the Fairmont Hotel on Tuesday. The event also looks to find ways to enhance trade,political and economic relations between India and the United States.

Ficci president Harsh Mariwala will lead a 20-member delegation while the others participants include Bharti Enterprises Vice-Chairman and Managing Director Rajan Bharti Mittal,JK Paper Limited Managing Director Harshpati Singhania and Kanoria Chemicals amp; Industry Ltd Chairman and Managing Director RV Kanoria.